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Friday Papers: Trump threatens $100bn more in China tariffs

And Japan's Takeda is readying to launch £30 billion offer to acquire Shire.

Friday Papers: Trump threatens $100bn more in China tariffs

Top stories

  • Financial Times: Trump administration is planning to slap an additional $100 billion in tariffs on imports from China, increasing fears of a full blown trade war with Beijing.
  • The Times: Japanese pharmaceutical company Takeda is considering a £30 billion-plus takeover bid for Shire; Takeda bosses have briefed top shareholders and analysts about the merits of such an offer for the FTSE 100 rare diseases specialist.
  • The Daily Telegraph: The Financial Conduct Authority has given Britain's £8 trillion asset management firms just 18 months to justify high fees they charge clients or switch savers to cheaper funds.
  • The Times: More than 3,000 employees of Google have signed a letter to Sundar Pichai, their chief executive, protesting against the technology company’s involvement in a US defence department programme that will use artificial intelligence to carry out drone strikes and other military operations.
  • Financial Times: JP Morgan Chase boss Jamie Dimon has warned that the US economy is at risk of overheating, which may force the Federal Reserve take measures to prevent wages and prices from rising too quickly.
  • Financial Times: Shipping companies are planning to bypass British ports after Brexit by ramping up direct freight services between Ireland and continental Europe.

Business and economics

  • The Times: China has lodged a formal complaint with the World Trade Organisation about the proposed US tariffs on imports amid escalating trade war between the world’s two biggest economies.
  • The Daily Telegraph: The mobile operator O2 has laid down £524 million to strengthen its network and prepare for the roll out of 5G technology.
  • Financial Times: Peugeot owner PSA is launching a dedicated electric car division as it plans to offer all of its models with an electric option by 2025.
  • The Daily Telegraph: Facebook shares have recovered from the decline it had suffered over the Cambridge Analytica scandal as the company denied scandal having any “meaningful” impact on how many people are using the social network.
  • Daily Mail: Mothercare’s stocks surged more than 11% after reports emerged that Sainsbury's was weighing up a bid to buy the troubled retailer.
  • The Daily Telegraph: Shares in Sophos jumped yesterday after the cyber security company announced accelerated growth in the last three months.
  • Financial Times: Chinese-owned AMC Entertainment is set to open its first commercial cinema in Saudi Arabia in 35 years.
  • The Guardian: The UK services sector has registered virtually no growth in March after severe cold snap brought businesses to standstill.
  • The Guardian: The cost of higher business rates and flooding in its London flagship store made the family-owned bookseller Foyles slip back into the red in 2017.
  • The Daily Telegraph: HSS Hire has reported widening losses in 2017 but its boss has insisted that the company’s turnaround is on track.
  • The Guardian: Rank shares tumbled 15% to a three-year low after the company said annual profits would be around £77 million rather than the £83 million forecast by City analysts.
  • Financial Times: The world’s largest commodity supplier Cargill has expressed concern over a potential trade war with China, just as it reported 24% fall in its profits.
  • Daily Mail: Royal Bank of Scotland will launch the ring-fencing of its retail banking operations by the end of this month.
  • The Times: Anglo American has been fined $38 million over pollution caused by a leaking iron ore pipeline in Brazil last month.
  • Financial Times: Danske Bank has ousted the head of its business and international units amidst growing money laundering scandal that is being investigated by Estonian and Danish regulators.
  • The Times: Conviviality, the failed owner of Bargain Booze and Wine Rack, has roped in PWC to oversee its administration; the company continues its search for buyers.
  • Financial Times: The parliamentary equality committee has demanded tough sanctions on the hundreds of companies that failed to file gender pay gap data before this week’s deadline.
  • The Times: Rob Tincknell, the chief executive of the Battersea Power Station Development Company leading the £9 billion development of Battersea Power Station, has stepped down after ten years on the project.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): BUY City Of London Investment Trust; HOLD Canadian Middlefield Income.
  • The Times (Tempus share tips): BUY Barclays; BUY Electrocomponents.
  • The Daily Telegraph: The Intercontinental Exchange is buying the Chicago Stock Exchange weeks after regulators stopped the 136-year-old trading hub from being taken over by a Chinese-led conglomerate.
  • The Guardian: Carlyle Group has agreed to buy the Australian wine producer Accolade, which produces Hardys and Echo Falls labels, for A$1 billion (£547 million).
  • The Daily Telegraph: Hammerson will not finalise shareholder documents for its planned £3.4 billion acquisition of shopping centre peer Intu until after the deadline for French rival Klépierre to make a formal bid for the company has passed.
  • The Daily Telegraph: Countryside Properties, Clarion Housing Group and Barratt Homes have bought land for £1 billion worth of homes at Ebbsfleet - the largest land purchase since the inception of the new Government-backed garden city.
  • The Daily Telegraph: Fidessa has revealed the names of financial technology companies SS&C Technologies and Ion Investment as the two mystery companies hoping to gatecrash Swiss group Temenos's £1.4 billion bid.
  • The Daily Telegraph: Det Norske Oljeselskap, the Norwegian oil major that increased stake on North Sea oil firm Faroe Petroleum within a breath of a controlling stake, has denied plans for an outright takeover.
  • Financial Times: Babylon, the British digital health start-up that uses artificially intelligent algorithms to assess illness, will offer its technology to WeChat as per a deal agreed with the social messaging platform’s owner Tancent.
  • The Guardian (Comment): Facebook board has to look past Mark Zuckerberg for reform.

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Thursday Papers: WPP in crisis over Sorrell claims

by Himanshu Singh on Apr 05, 2018 at 04:29

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